Nigerian National Petroleum Company Ltd (NNPCL) has responded to recent criticisms, saying attacks on it are based on sentiments and not facts.
In a statement, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, said the company has been unfairly blamed for challenges in the oil sector, including fuel scarcity and subsidy issues.
Soneye noted that the policy of fuel subsidy is not the preserve of NNPC Ltd, but a government policy that the company implements.
He also highlighted the challenges faced by the company, including products smuggling, pipeline vandalism and crude oil theft.
The statement was in response to an article by a Senior Advocate of Nigeria, Muiz Banire who described NNPC Ltd as a “black hole” and blamed it for the country’s fuel subsidy woes.
Soneye argued that Banire’s analysis was flawed and failed to consider the company’s efforts to keep the nation supplied with fuel despite financial constraints.
He also pointed out that NNPC Ltd has turned a corner since 2018, becoming a profitable company with a growth trajectory.
The company has also been criticized by others, including Prof. Pat Utomi, who described it as “opaque and unreliable,” and The Punch Newspaper, which called it a “danger to Nigeria.”
However, Soneye maintained that the company is committed to accountability and transparency, regularly publishing its audited annual financial statements.
He urged critics to refrain from standing facts on their heads and to seek clarifications when necessary, rather than making unfounded assertions.
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